LiquidX Launches Electronic Insurance Marketplace

New York, NY, March 29, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- LiquidX, the global network for illiquid assets, announced today that it has collaborated with Marsh, a global leader in insurance broking and innovative risk management solutions, to launch a next generation platform for the multi trillion dollar trade credit insurance industry. The LiquidX Trade Credit Insurance Marketplace recently went live with multiple transactions executed and underwritten by insurance carriers, Euler Hermes and Atradius.

“We are delighted to work with industry leaders such as Marsh, Euler Hermes and Atradius to launch an electronic marketplace, which we all believe will revolutionize the way trade credit and other insurance products are transacted,” said Jim Toffey, CEO of LiquidX.

“This is a great opportunity to expand distribution for the trade credit insurance industry and enhance transactional speed and efficiency for clients,” noted Michael Kornblau, US Trade Credit Practice Leader at Marsh.

For the first time, insureds have the ability to electronically and directly access the trade credit underwriting market for their insurance needs. The platform is multi-carrier, with Euler Hermes and Atradius, global leaders in trade credit insurance, being the first insurers to offer their products via the LiquidX network.

James Daly, President & CEO of Euler Hermes Americas, commented that, “Euler Hermes is pleased to launch this exciting partnership with LiquidX to deliver innovative solutions to our existing and future customers. It is our priority to provide all businesses with the confidence to trade safely and grow their businesses, knowing their cash flow is protected.”

The platform is open to any interested insured party and provides them with valuable market data transparency. Whether you’re a bank, a non-bank investor, or a corporate supplier, the platform provides efficient online execution and straight through processing of insurance policies.

“The LiquidX electronic marketplace for trade credit insurance is an innovative solution which stands to deliver industry wide benefits and we’re very happy to play a central role in its creation,” commented David Huey, President & Region Director North America, Atradius.

The platform is being rolled out globally as LiquidX continues to expand the scope of its products and services offered through its network.

About LiquidX

Through its leading technology and diverse network of global participants including major corporations, banks, institutional investors, and insurance providers, LiquidX provides an efficient and flexible platform for participants to transact across the trade finance, working capital and trade credit insurance asset classes in one place. LiquidX has executed over $18.5 billion of trade volume and processed $74 billion in post trade settlements since 2016. For more information about LiquidX, please visit www.liquidx.com.

About Euler Hermes

Euler Hermes is the global leader in trade credit insurance and a recognized specialist in the areas of bonding, guarantees and collections. With more than 100 years of experience, the company offers business-to-business (B2B) clients financial services to support cash and trade receivables management. Its proprietary intelligence network tracks and analyzes daily changes in corporate solvency among small, medium and multinational companies active in markets representing 92% of global GDP. Headquartered in Paris, the company is present in 52 countries with 6,050 employees. Euler Hermes is a subsidiary of Allianz, listed on Euronext Paris (ELE.PA) and rated AA by Standard & Poor’s. The company posted a consolidated turnover of €2.6 billion in 2017 and insured global business transactions for €894 billion in exposure at the end of 2017.

Atradius is a global provider of credit insurance, surety and collection services, with a strategic presence in over 50 countries. The credit insurance, bond and collection products offered by Atradius protect companies around the world against the default risks associated with selling goods and services on credit. Atradius is a member of Grupo Catalana Occidente (GCO.MC), one of the largest insurers in Spain and one of the largest credit insurers in the world. www.atradius.com

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